Answer:
The sales will surpass 37 million in about 2013.
Step-by-step explanation:
The answer can be found via solving an exponential inequality as follows:
[tex]f(x) = 20(1.05)^x\\20(1.05)^x> 37\\1.05^x> \frac{37}{20}\\x\log 1.05>\log\frac{37}{20}=\log 37 - \log 20\\x>(\log 37 - \log 20)/\log 1.05=12.6\\x>12.6 \,\,\mbox{years}[/tex]
Any number of years larger than 12.6 will satisfy the inequality, i.e., after more than 12.6 years from year 2000, the annual sales will surpass 37 million. The answer to the exact question will then be: in about 2013 the sales will surpass 37 million.
